Answered step by step
Verified Expert Solution
Question
1 Approved Answer
5 A jeweller has a division of 22 Carat Gold Bangles and wants to know the following Data relating to the last year for all
5
A jeweller has a division of 22 Carat Gold Bangles and wants to know the following | ||
Data relating to the last year for all months with total sales and total costs are also | ||
available and given below | ||
Month | # of Set | Total |
sold | Cost | |
Jan | 200 | $ 9,500 |
Feb | 550 | $ 26,500 |
Mar | 500 | $ 25,000 |
Apr | 650 | $ 31,500 |
May | 400 | $ 21,000 |
June | 560 | $ 26,250 |
July | 680 | $ 32,000 |
Aug | 700 | $ 32,500 |
Sep | 500 | $ 24,000 |
Oct | 600 | $ 26,750 |
Nov | 600 | $ 28,000 |
Dec | 450 | $ 22,000 |
Solve by Least-squares Regression Method ONLY AND COMPUTE THE FOLLOWING | ||
Requirements: | ||
(i) Variable cost per Set= $ | ||
(ii) Fixed cost per month = $ | ||
(iii) Semi Variable costs per month = $ | ||
(iv) Semi Fixed costs per month = $ | ||
REMEMBER NOT TO SOLVE BY HIGH-LOW METHOD | ||
Need 100% Correct Answer only |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started